Going Paperless – Part 4 – Get digital statements, bills and pay them electronically.

This is an article in a series.  You can find them here:  www.jazmine.com/blog

This article is about automating your bill pay and getting your statements electronically.  You can then upload these documents into a system such as www.jazmine.com or others as I will discuss in the next article.

Bills can come in digital form so that is another way to reduce paper.  I recommend setting up your bills to autopay through your bank account.  A few might require you to set up an account with your provider (such as a utility company) to pull the payment out of your account.  For example, most of my payments are the same amount every month (like my mortgage) and others that are slightly different (like my credit card accounts or utility bills).  I pay most of them automatically and check the balance every three months and either make an extra payment or balance the account.

  • Set up autopay for all your regular bills
  • Set up your variable bills to pull from an account (or, pay it manually but through the bill pay service of your bank)
  • If you set up an autopay with your variable accounts, balance it out every 3-4 months.  Most providers don’t charge you a penalty, but, some do.  I usually overpay by $5 or $10 bucks every month or there is no late pay or penalty.

Use this PDF to take an inventory of your bills!  bill-payment-schedule-jazmine.

You don’t have to wait 30 days, get started right away and a few mins a day will you get shortly!  You probably have less than 10 regular bills a month.

I spoke with my dad the other day and he said he pays all of his bill’s online.  He’s 83!  And, my mom too who has a rental property and she pays her bills online.  You can do it too!

Having your autopay mapped out can help you see where your money is going and also helps your spouse, organizer or caregiver know what is being paid from what account.

If you opt to pay certain bills on credit cards, make a note of that.  Paying by credit card will get you points.

Here is a handy PDF that can help you take an inventory of your bills and statements.

Next week, I will discuss how you can store your electronic bills, statements and invoices.

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